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fintechFIVE: Lucsan

Leah Fricke

Non-executive director

In two sentences or less, describe your product or service.

Lucsan is an Australian RegTech and data analytics company providing leading technology solutions to a wide range of companies, including Australia’s major banks. Our vision at Lucsan is to help financial institutions proactively reduce the ongoing cost of compliance and implement improved compliance culture and practices.

As levels of regulation rise and global focus on data and reporting increases, our products combine regulatory change requirements and the use of more efficient, cost-effective technology, with a focus on flexibility.

What has been the company's biggest milestone to date?

Recently, we entered into a strategic partnership with IRESS, one of Australia’s largest providers and exporters of technology for the financial services industry. At a time of strict regulatory focus on data and reporting, this new partnership with IRESS provides us with a solid platform for continued growth and an increased focus on RegTech innovations.

Together with IRESS, we’re a real-world example of the power of collaborative partnerships and the value that this can deliver to the market.

What’s your most useful advice for having a productive day?

I’m a proponent of the extreme early morning start, primarily because I wake up before 5am. A walk first thing allows me to get clarity on my day ahead, contemplate the issues that are occupying my mind and make decisions about what to focus on. Fortunately, I love what I do and I’m proud of what we are achieving at Lucsan. It’s easy to be productive when you love what you do.

Where do you see the company in 12 months?

Lucsan is positioned to be a global leader in RegTech and the organisation’s growth strategy supports this. We value an innovative and collaborative approach across the business, from soon-to-be-launched products and services to industry partnerships and projects. We’re interested in expanding both locally and internationally, and we anticipate a great level of activity in the new year to realise this potential.

Which book has had the most influence on your professional mindset?

Thinking, Fast and Slow by Daniel Kahneman is the book that immediately comes to mind as the most influential on my professional mindset. In 2011, it was described as “Lucid and profound” by the New York Times. It came out as I was transitioning to full-time board work and joined the board at Lucsan. The concepts in the book made me much more disciplined and analytical in my decision-making and in how I process information.

The fintechFIVE is a series of five questions intended to shed light on innovative companies from Australia and around the world. Every Thursday we ask the same five questions to a representative from a different fintech company – check out the most recent fintechFIVEs here.

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